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FATCA overview

Commercial Banking – Israel

The Foreign Account Tax Compliance Act (FATCA) is a new piece of legislation by the United States Department of Treasury (Treasury) and the US Internal Revenue Service (IRS) to counter tax evasion in the US. HSBC is committed to being fully FATCA compliant in all countries and territories where we operate, in accordance with the legislative timeline. This means that HSBC may need to provide information on US accounts to the United States tax authority, the Internal Revenue Service (IRS).

In order to establish your tax status, we need to obtain certain documents. These documents are HSBC declarations and/or US tax forms that will enable you to declare and confirm your tax status to us for the purposes of FATCA. We also need your formation documents, for example, your certificate of incorporation or a similar type of document confirming your place of incorporation.

Please send the completed documents to us or hand them in to your relationship manager. Should you have problems printing the forms you need, please contact your relationship manager.

Please read the information carefully and select the document that is appropriate to your company. If you are unsure, you should seek advice from a tax advisor. HSBC cannot provide tax advice.

FATCA Declaration for Non-Financial Foreign Entities: This is an HSBC document which you may be able to sign instead of a US W-8 series form to confirm non-US tax status. Please read the form carefully to ensure you meet the relevant conditions. If you believe that you do not meet the relevant conditions, please do not use this declaration and instead use the relevant W-8 series form or W-9 form.

W-9 form: This is the withholding certificate referred to as a ‘W-9’ on the IRS website. This form is completed to confirm US tax status.

W-8: This is a link to the withholding certificates referred to as ‘W-8s’ on the IRS website. This is a series of forms that are completed to confirm non-US tax status.

In order to provide customers with further support when completing IRS W forms, we have provided some additional customer guidance for the forms W-9, W-8BEN and W-8BEN-E.

(Page last updated October 2022)